Square Enix casting Takeoveraga on Tecmo

With Itagaki and most of Team Ninja gone, the president out, and a scandal over unpaid bonuses, Tecmo is easy prey for a bigger, acquisition-minded company -- like, say, Square Enix. SE announced that they've submitted a proposal to Tecmo's board of directors for acquisition of the company's common stock.

According to the vaguely legalese press release, SE "cannot be optimistic about the future of this significant resource, given the current circumstances surrounding TECMO" -- and thus they wish to save Tecmo by purchasing them. Tecmo would retain its existing brand and company organization, like Taito.

Tecmo's board of directors has until September 4 to respond to this offer. Should they fail to make a decision ... Square Enix won't buy them. That sounds anticlimactic, but without some fresh Dragon Quest money Tecmo's probably toast.